Federal Jury Indicts Three Accused of Posing as Pastors in Alleged $28M Ponzi Scheme

Three men accused of passing themselves off as pastors to get churchgoers and other investors to put money into what prosecutors say was $28 million ponzi scheme have been indicted by a federal jury in Maryland. 

According to the indictment unsealed on Friday, Denni Jali, a South African citizen who used to live in Maryland, together with Maryland residents Arley Ray Johnson and John Erasmus Frimpong, persuaded people into investing money by saying they ran a cryptocurrency and foreign-exchange trading fund. 

Instead of investing the money for their investors, the three men allegedly used the funds to fund their extravagant lifestyles, the indictment notes. 

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Source: Coindesk